Most of us have seen great moves in Bitcoin (BTC), Ripple (XRP), and Litecoin (LTC), but TRON (TRX) is the latest sensation. In the market as it has seen faster growth recently as compared to all others. TRX is the coin of the TRON network and has grown faster than most of the famous cryptocurrencies. Tron is not ready to rest until they reach $0.0240 while it supports the uptrend towards the critical $0.0300. The TRX price has seen an uptrend since January 2020 and will continue on the same path for many weeks ahead. Recently, TRX is seen to change hands at about $0.0198 as well.
The entire TRON’s ecosystem is growing steadily with its number of addresses exceeding $4.6 million. More than 4000 accounts are being added daily to this figure. It has registered an average trading volume of $1.4 billion, which is increasing daily. The MACD indicator for TRON is bullish and the Bollinger Band indicator lines are moving upwards. Its bullish prediction is relevant to the closest resistance zone at nearly $0.22.
Factors affecting the TRX/USD price
Tron (TRX) is a new decentralized content sharing and entertainment platform which uses peer-to-peer technology and blockchain technology. It can also be considered a next-gen social media outlet. From mid-December 2019 to January 2020, TRX has grown more than 2000%. Yes, it is true, Tron (TRX) has seen a growth of 2000% in just 3-4 weeks. The TRX/USD instant upside is quite limited by its 50 SMA (Simple Moving Average) along with its triangle resistance. It needs a break to move above two resistances to open its way for better gain to reach $0.0120. The RSI known as the Relative Strength has gone above 50. It is also supposed to move upward only soon. In the near future, the buying entries are also probable to increase, provided that the RSI inches close to an overbought area.